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20121002
20121002
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KTVU (FOX) 1
WUSA (CBS) 1
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FOX
Oct 2, 2012 4:00am PDT
. workers are protesting the government's austerity measures. government officials submitted a draft of the 2013 budget yesterday that calls for a new wave of deep cuts which will save $10 billion next year. workers will protest proposed cuts to salaries, pensions and other benefits. last week, 50,000 people in athens demonstrated against austerity. wages in china are going up - by some estimates, about 17% a year. it is providing china's growing middle class with more money to buy goods, though inflation is not helping. but it may also drive up the cost of making some of those products there, as well. in our cover story, who gains as china's employee base moves up? despite china's present economic slowdown, the story of its workforce recently has been of migration from farm to factory. 25 million made the move in 1990. last year, that figure grew to 158 million. it has increased china's productivity and competitiveness. but lately, that workforce is demanding more. "they increasingly learn that there's a big gap in what they earn and some other people." the wage gap in narrowing. tw
CBS
Oct 2, 2012 6:30pm EDT
.u. mark, thanks very much. spain is among europe's largest economies, but the government has borrowed so much money that it's been forced into huge spending cuts and layoffs to try to repay what it owes. one of the people working to rescue europe is christine lagarde. she's the head of the international monetary fund and one of the most powerful people in the world in finance. the i.m.f. is essentially a massive bank that helps countries manage debt and international trade. at her headquarters in washington, we asked lagarde about the spaniards like the ones you just met. >> i feel very bad and very sorry for the people, because i know how hard it is and i know how difficult it is for people who lose their job, for families who find it difficult to make ends meet. but equally i know that it's necessary. and it's a process through which countries have to go in order to restore their situation and be able to grow again and create jobs again. >> pelley: how long do you imagine the troubles in europe will go on? >> it has been going on for a long time. a lot has been done. you know, the euro
Search Results 0 to 1 of about 2